Infranode and KPA Unicon have established a joint venture Varmalämpö Oy

Infranode and KPA Unicon have established a joint venture Varmalämpö Oy, which will serve the district and industrial heating market in Finland through a capacity as a service concept.

Varmalämpö offers heat-only boilers and combined heat and power plants through 10 to 25-year availability-based contracts to energy utilities and industrial clients in Finland.

This is a new type of concept for the heating market in Finland, which does not compete with the energy-as-service offerings. Varmalämpö is not an outsourcing concept, but rather a long-term partnership with the client, who maintains full control of its fuel sourcing, heat production, and end client interface. Varmalämpö provides the heat plant and remains responsible of the operations and maintenance, while guaranteeing the availability of the heat plant over the contract term. KPA Unicon’s inhouse technological knowledge and extensive experience as a heating equipment provider ensures the long-term performance of Varmalämpö’s services. KPA Unicon is the clear market leader in this segment in Finland.

Service and life cycle models, such as Varmalämpö, are becoming a part of the financing toolbox for municipality-owned energy utilities, enabling them to meet environmental and security of supply requirements in a cost-efficient manner. The Varmalämpö concept helps to improve operational and financial performance of its clients who can modernize their heat production infrastructure without putting pressure on their balance sheets as a result of large investment needs.

Initially, Varmalämpö aims to acquire approximately 15-20 clients with the target to invest up to EUR 100m to the Finnish district and industrial heating market.


About Infranode

Infranode is a long-term infrastructure investor with focus on the Nordics across the energy, transport, telecom and social infrastructure sectors. Infranode’s team includes 10 infrastructure investment professionals with offices in Stockholm, Helsinki, and Oslo. We currently have approximately EUR 450m of capital under management. Our investor base comprises pension and insurance institutions such LähiTapiola, the European Investment Bank, the Swedish state’s pension fund 4th AP Fund, Folksam, KPA Pension, and the IMAS Foundation. Infranode is an affiliate to Areim, an established Nordic real estate fund manager and adviser.

For more information

Aleksi Graan, Director and Country Lead, Finland, Infranode


+358 40 511 5473,
+46 72 575 1832


About KPA Unicon

KPA Unicon provides heat, steam and power generation equipment and related operations and maintenance services across 15 countries and is the clear market leader in Finland. The company was founded in 1990 and has since then delivered over 300 biomass boiler plants and over 2000 oil and gas boiler plants globally. Its 2017 revenues were approximately EUR 80m and it employed 250 energy industry professionals. KPA Unicon has its headquarters in Pieksämäki, Finland and factories in Kiuruvesi and Lapua, Finland as well as international subsidiaries in France, Russia, Ukraine, Croatia and Chile.

For more information

Jukka Pennanen, Chief Customer Office, KPA Unicon


+358 44 200 8588